The Ministry of Finance issues accounting discount treasury bonds for 2025.

The Ministry of Finance plans to issue discount national bonds in 2025. This series of national bonds are discount bonds with a maturity of 91 days. The total face value of the competitive bidding for the national bonds is 60 billion yuan, with additional bidding by Class A members. The issue price of this series of national bonds will be determined through competitive bidding, and will be issued at a discount price lower than the face value. Interest on this series of national bonds will begin to accrue on December 25, 2025, and will be repaid at face value on March 26, 2026.